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HomeMy WebLinkAbout08-17-10 Downtown Tax Increment Finance District Minutes Downtown Tax Increment Finance Board Meeting Minutes August 17, 2010 Attending: Bobby Bear, Vonda Laird, Bob Lashaway Cyndy Andrus, Chris Naumann, Pam Bryan (public) Absent: Bob Hietala, Bill Stoddart Public Comments Chris introduced Pam Bryan, Chair of the Bozeman Parking Commission Pam thanked the board for all their support of the Parking Commission, the Bridger Park Garage, and proactive parking policies and initiatives downtown. She specifically expressed the gratitude of the entire Parking Commission for the board’s willingness to fund the downtown parking study being conducted by WTI. In closing she communicated that the recent appointment of Paul Burns, Bozeman Parking Manager, was an important step in further developing the relationship between the BPC and TIF. Cyndy Andrus commented that she thinks perhaps the Parking Manager should have a “permanent” non-voting position on the TIF board considering how invested the TIF is into downtown parking infrastructure and issues. Disclosures None Minutes ACTION:Bob Lashaway motioned to accept the minutes from July Bobby Bear seconded the motion. All voted in favor. Financial Report st Chris indicated that the only major expense incurred in the first six weeks of FY2011 was the 1 quarter management fee payment to the Downtown Partnership for $18,500. There were also expenditures of $722 for street furniture and park maintenance. Program Director’s Report None provided Executive Director’s Report FY2011 Budget and Work Plan I presented the FY2011 Downtown TIF Budget and Work Plan to the City Commission on August 16, 2010. They inquired about the significant increase the TIF revenues and spending. I explained that the marked increase in the increment was due to the DOR reappraisal of commercial property taxable values. I informed them that planned expenses increase due to the greater revenue and the prioritized objectives established by the Downtown Improvement Plan. They had several questions about the Technical Assistance Program, mostly in the interest of better understanding how the program works. Mayor Krauss indicated that he would like to th “borrow” the program to be implemented by the North 7 TIF District. I encouraged coordination and cooperation between all of Bozeman’s TIF districts whenever possible. The City Commission unanimously approved the FY2011 Work Plan and Budget. Board Non-Voting Appointment Paul Burns, City of Bozeman Parking Manager, applied for a non-voting position on the TIF Board. I submitted a Memo to the City Commission supporting Mr. Burns application citing that the TIF and Parking Enterprise are inextricably linked and Mr. Burns would better inform TIF discussion about parking issues downtown. th The City Commission approved his application at their meeting on Monday, August 16. Mr. Burns is out of town this week and will take his seat at the September meeting. Explosion Site Update I previously updated the board that Ann Bates and her attorney have declined the offer to create temporary public green space at 221 and 223 East Main Street citing liability concerns despite offers to cover all liability issues with DBP and COB insurance coverage. This concept is now moot considering that the land has been sold to a developer that plans to construct a multi-story building a soon as next year. I have spoken with Chris Pope about fencing his property at the property line in conjunction with the opening of the American Legion Building. This would allow the removal of 30-40% of the current construction board walk. Pope and I discussed doing something creative with the wall/fence at his Main Street property line…some sort of artistic element that would improve the aesthetic of his vacant property. Bobby asked if Chris thought Chris Pope would consider a public-private partnership to install and maintain temporary green space on his lot if he anticipated a lengthy vacancy. Chris indicated that they had discussed the concept and he would revisit the idea with Mr. Pope. Technical Assistance Program FY2011 Report Project Name Project Address Applicant Professional Gallatin Building 44 East Main Street Community Food Co-op Intrinsik Downtowner Building 31-37 South Willson Downtowner Group LLC Brett Potter Odd Fellows Building 221-223 East Main City Center Commerce ThinkTank The Willson Hotel Armory E. Mendenhall The Catellus Group LLC Slade Beal Discussion and Decision Items City Commission Liasion Chris apologized to Cyndy for having postponed this discussion at the last two board meetings. He asked Cyndy to please begin the discussion. Cyndy stated that she would like to hear what the board expects of her as their City Commission Liasion. Bobby indicated that the board would rely on her to inform them of any downtown issues on the minds of the Commission and what their thoughts are about downtown projects and initiatives. Cyndy replied that the board should definitely bring up issues with her to take back to the Commission thus encouraging proactive discussion and less miscommunication. Bob Lashaway added that the TIF and CC have had good relations over the years. He continued that the board appreciated the support of the downtown recovery efforts following the explosion and their unanimous adoption of the 2009 Downtown Improvement Plan. He concluded by saying that TIF initiatives are more important than ever as we pull out of the recession and implement the Downtown Plan. Cyndy whole-heartedly agreed and thanked the board for all their hard work. Parking Garage Long-term Maintenance Fund Chris reminded the board that at the July meeting he had presented the concept of pledging the TIF interest income to a long-term maintenance fund for the garage. He said that considering the TIF’s substantial investment in the garage contributing to the fund would be prudent. Chris indicated that the BPC would be in a position to start contributing excess operating revenues in FY2012 or FY2013 to the fund but they are uncertain how much they will be able to contribute. Chris presented the garage’s long-term maintenance schedule to the board as prepared by Paul Burns. Chris pointed out that for the first 5-7 years the cash requirements would be approximately $2000 annually. Anticipated costs in years 8-10 would be in the range of $20k- $30k each year. The large maintenance needs would occur in the 2030-2040 window. The total aggregate maintenance costs (adjusted for inflation) by 2040 are estimated at $650,000. The board agreed that contributing to this fund would be wise, but they would like some assurances that enterprise funds would also be contributed over time. Chris indicated that would be the intention of the BPC. Vonda suggested that Paul Burns present the board with a BPC financial report at the September meeting. The group agreed that it would be helpful to not only see revenue and expense history but also future projections to better understand the finances of the enterprise fund. Chris said he would ask Paul to make that presentation next month. Downtown Urban Route Transformation Study Chris updated the board that Rick Hixson, City Engineer, was drafting the RFP for the Downtown Urban Route Transformation (DURT) Study. In conjunction, Chris said he is working with the City’s grant writer to prepare a TIGER II grant request to fund the study. He said that Bozeman because of its population would not be required to provide a match (as is the case for larger communities) but if a match was offered it may increase the likelihood of receiving a grant. Chris asked the board to consider a motion committing a match for the TIGER II grant. He reminded the board that they earmarked $125,000 for implementation of the Downtown Improvement Plan and as previously discussed the “one-way” study was the highest priority project being initiated this year. Bobby indicated that at MSU the typical match for federal funding is 25% which in this case would equate $50,000. ACTION:Bob Lashaway motioned to provide a $50,000 match in support of the City of Bozeman’s application for a federal TIGER II grant for the planning costs of the Downtown Urban Route Transformation Study. Vonda Laird seconded the motion. Bobby Bear requested the motion be amended to also incorporate a letter of support for the grant application from the TIF Board. Bob Lashaway seconded the amendment. All voted in favor. Housing Incentive Program Chris said that in the interest of time, he would like to postpone the discussion about the Housing Incentive Program until the September meeting. New or Old Business Chris reminded the board that the Downtown After-Hours co-hosted by the Downtown th Partnership, the Chamber and Prospera will be on August 26 from 5:30-7:30pm at the Emerson. He requested that board members attend and sign-up to help at the Downtown information table. Bobby adjourned the meeting.